Apple To Expand Operations In India Says IT Minister

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Apple has most of its assembling units in China. However, over the recent trade war between the US and China, Apple and other tech giants are looking for different regions to set up their manufacturing base. At the moment, Apple is expanding its operations in India, confirms Union IT minister Ravi Shankar Prasad reports PTI.

Apple To Expand Operations In India Says IT Minister

 

Apple To Expand Operations In India

According to the latest report, Apple's iPhone component supplier Salcomp would make components at a manufacturing plant in Chennai. It has been reported that Salcomp will be investing nearly Rs. 2,000 crores over the next five years. As part of the expansion, the Indian company will manufacture iPhone chargers and other such components.

The expansion is expected to generate approximately 10,000 jobs in India says the IT minister. Moreover, Apple will also begin making and assembling iPhones in India. There are already iPhone XR units selling out with the 'Assembled in India' tag and more devices will follow soon.

The IT Minister also notes that the iPhones and other components manufactured or assembled in India will be exported. This will add to the list of smartphones in the export trade, which is estimated to be worth $1.6 billion (roughly Rs. 11,500 crores).

Apple To Expand Operations In India With Salcomp

As mentioned, Salcomp will be an important part of Apple's growth expansion in the country. But what do we know about Salcomp? The company is one of Apple's major component suppliers. It has also bought Nokia's non-functional handset factory in the outskirts of Chennai for nearly Rs. 215 crores.

 

The original Nokia factory was shut down in 2014 after a tax dispute between the company and the local authorities. Flash forward to 2019, Salcomp has acquired the factory and is expected to begin operations by March 2020. The company is set to ramp up exports by investing $300 million over the next five years, said a person familiar with the matter.

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